Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 13,369, 4,390 total housing units (homes and apartments), and a median house value of $575,367, Western Springs house prices are not only among the most expensive in Illinois, Western Springs real estate also is some of the most expensive in all of America.
Western Springs is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Western Springs than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Western Springs. Owner-occupied housing accounts for 95.58% of Western Springs's homes, and 80.78% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Western Springs's housing was primarily built during this period, from the '40s through the '60s. A full 50.83% of the village's housing hails from this era. Other housing ages represented in Western Springs include homes built before 1939 ( 20.17%) and housing constructed between 1970-1999 ( 15.06%). There's also some housing in Western Springs built between 2000 and later ( 13.94%).
Appreciation rates for homes in Western Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.16%, which ranks in the top 50% nationwide. This equates to an annual average Western Springs house appreciation rate of 0.12%.
Over the last year, Western Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Western Springs's appreciation rate has been 1.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Western Springs were at 0.43%, which equates to an annual appreciation rate of 1.74%.
Relative to Illinois, our data show that Western Springs's latest annual appreciation rate is lower than 60% of the other cities and towns in Illinois.
|$836,001 - $1,115,000||10.7|
|$558,001 - $836,000||30.3|
|$446,001 - $558,000||21.2|
|$334,001 - $446,000||16.6|
|$223,001 - $334,000||6.0|
|$111,001 - $223,000||3.9|
|$56,001 - $111,000||0.5|
|$0 - $56,000||0.8|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Western Springs HOMES|
|2000 or Newer||13.9|
|1970 - 1999||15.1|
|1940 - 1969||50.8|
|1939 or Older||20.2|
|TYPE OF Western Springs HOMES|
|Small Apt. Buildings||2.8|
|SIZE OF Western Springs HOMES|
|5 or more bedrooms||9.56|